Goldman Sachs Maintains Neutral on Sprout Social, Lowers Price Target to $44
Portfolio Pulse from Benzinga Newsdesk
Goldman Sachs analyst Chris Merwin has maintained a Neutral rating on Sprout Social (NASDAQ:SPT) but lowered the price target from $80 to $44.

May 06, 2024 | 3:30 pm
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NEGATIVE IMPACT
Goldman Sachs maintains a Neutral rating on Sprout Social but reduces the price target significantly from $80 to $44.
The substantial reduction in the price target by a prominent analyst like Goldman Sachs could lead to negative sentiment among investors, potentially causing a short-term decline in Sprout Social's stock price. The Neutral rating remains unchanged, indicating that the analyst does not see significant upside or downside from the current level, but the lowered price target suggests a reassessment of the company's future growth prospects or valuation, which could impact investor confidence.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100